A Missouri judge struck down an investment rule in the state seeking to go after “woke politics.”
On Wednesday, U.S. District Judge Stephen R. Bough ruled against an investment regulation in Missouri led by Republican Secretary of State Jay Ashcroft, who sought to reveal financial companies and institutions that “put woke politics ahead of investment returns.”
The judge ruled that the regulations put in place by Ashcroft violated the financial institution’s free speech.
Kara Corches, interim president and CEO of the Missouri Chamber of Commerce and Industry said that the regulations “would have placed an unnecessary burden on investment firms—small and large—doing business here in Missouri,” The Associated Press (AP) reported.
Ashcroft, whose office oversees state securities laws, implemented rules in 2023 requiring investment professionals to obtain written consent from clients before factoring in “a social objective or other nonfinancial objective” when making decisions about buying or selling securities.
In 2023, …